Contract caterer Fare of London has announced a 38% year-on-year revenue increase for the 12 months ending in August 2015 on the part of its parent company Principals Catering Consultants Ltd.
The caterer says client renewals at the beginning of the year played a major part in bringing in revenues estimated to be worth £25m over the next five years.
Winning new business in 2015 also contributed to Fare of London’s financial performance, with the acquisition of a five-year contract with new London events venue Farmers and Fletchers in the City.
The company reports its 25th anniversary campaign and its Celebration of Forgotten Fare events (which saw 300 event professionals visit two of Fare of London’s client venues, and sample some of the forgotten food recipes) were also contributing factors in driving new business.
This year’s revenue increase follows a 20% year-on-year revenue increase for the company last financial year, ending in August 2014.
Fare of London’s MD John Durden says: “We’re delighted to have enjoyed such great success this year, particularly as it’s the 25th anniversary of the company. This is testament to the economic upturn as well as the hard work of our staff.”
Fare of London works with a number of London-based institutions, including the award-winning Royal College of Physicians, Ironmongers’ Hall and The Jerwood Foundation The company has 500 employees and provides contracted in-house catering resources for venues as well as bespoke sales and marketing and event management services.